AbacusNext Acquires OfficeTools, Eyeing Expansion Into Spend Management
AbacusNext, which provides case management and desktop-as-a-service cloud platforms to legal clients, has announced the acquisition of accounting…
June 01, 2017 at 08:22 AM
3 minute read
The original version of this story was published on Law.com
AbacusNext, which provides case management and desktop-as-a-service cloud platforms to legal clients, has announced the acquisition of accounting practice management solutions provider OfficeTools.
The acquisition is the latest by Abacus, previously went by Abacus Data Systems. In 2016, the company purchased legal practice management software solution Amicus Attorney, cloud IT hosting provider CloudNine, and customer relationship management tool Results Software.
With the acquisition of OfficeTools, the company hopes to expand its foothold in the accounting solution space. “We are aware that busy lawyers, doctors, and CPAs are not only looking to streamline their practices with technology, but are also dedicated to finding the right solution for their firms and practices,” said AbacusNext CEO Alessandra Lezama.
She added, “This acquisition will bring together OfficeTools' expertise in their industry and our expertise in the legal industry, and together, we will provide best of breed integrated solutions to enable the CPA and legal professions. “
OfficeTool is best known for its Workspace Solution, which Lezama explained “combines a suite of core productivity and management features into an integrated solution, operated from a single-screen user interface for firms in the tax preparation and public accounting industry.”
Given that Workspace has been historically hosted on CloudNine's cloud servers, the OfficeTool also represents another investment in cloud-based managed services for Abacus. Lezama noted that company expects the demand for “managed technologies will only continue to grow amongst [legal and accounting] professionals due to emerging cyber threats, compliance requirements, and the need for secure, ubiquitous access to their practices.”
Mike Giardina, founder and CEO of OfficeTools, expressed enthusiasm over the acquisition, stating that under Abacus, “OfficeTools will have the resources to take our products to the next level enabling key integrations as we deliver fully managed cloud solutions that meet the highest standards of functionality, security and compliance.”
With funding from private equity firm Providence Growth Equity, Abacus rebranded itself with a new logo and opened new headquarters in La Jolla, California, in early 2016. Lezama told Legaltech News at the time, “Abacus is consistently expanding its products and services portfolio, in addition to expanding its offerings into new markets.”
Copyright Legaltech News. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Trump Likely to Keep Up Antitrust Enforcement, but Dial Back the Antagonism
5 minute read
A Blueprint for Targeted Enhancements to Corporate Compliance Programs
7 minute read
Trending Stories
- 1Infant Formula Judge Sanctions Kirkland's Jim Hurst: 'Overtly Crossed the Lines'
- 2Election 2024: Nationwide Judicial Races and Ballot Measures to Watch
- 3Guarantees Are Back, Whether Law Firms Want to Talk About Them or Not
- 4How I Made Practice Group Chair: 'If You Love What You Do and Put the Time and Effort Into It, You Will Excel,' Says Lisa Saul of Forde & O'Meara
- 5Abbott, Mead Johnson Win Defense Verdict Over Preemie Infant Formula
- 6How Much Does the Frequency of Retirement Withdrawals Matter?
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
